Gagnon Securities Lowers stake in Red Hat Inc (RHT)

Red Hat Inc (RHT) : Gagnon Securities reduced its stake in Red Hat Inc by 0.86% during the most recent quarter end. The investment management company now holds a total of 148,578 shares of Red Hat Inc which is valued at $10,994,772 after selling 1,286 shares in Red Hat Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Red Hat Inc makes up approximately 4.86% of Gagnon Securities’s portfolio.

Other Hedge Funds, Including , Texas Permanent School Fund reduced its stake in RHT by selling 4,129 shares or 6.55% in the most recent quarter. The Hedge Fund company now holds 58,866 shares of RHT which is valued at $4,356,084. Red Hat Inc makes up approx 0.06% of Texas Permanent School Fund’s portfolio.Exane Derivatives boosted its stake in RHT in the latest quarter, The investment management firm added 109 additional shares and now holds a total of 301 shares of Red Hat Inc which is valued at $22,449.Retirement Systems Of Alabama boosted its stake in RHT in the latest quarter, The investment management firm added 281 additional shares and now holds a total of 92,498 shares of Red Hat Inc which is valued at $6,811,553. Red Hat Inc makes up approx 0.04% of Retirement Systems Of Alabama’s portfolio.Msi Financial Services Inc reduced its stake in RHT by selling 10 shares or 1.42% in the most recent quarter. The Hedge Fund company now holds 692 shares of RHT which is valued at $50,959. Kanaly Trust Co added RHT to its portfolio by purchasing 8 company shares during the most recent quarter which is valued at $588.

Red Hat Inc opened for trading at $73.51 and hit $74.37 on the upside on Friday, eventually ending the session at $74.23, with a gain of 0.71% or 0.52 points. The heightened volatility saw the trading volume jump to 7,69,228 shares. Company has a market cap of $13,443 M.

On the company’s financial health, Red Hat Inc reported $0.50 EPS for the quarter, based on the information available during the earnings call on Jun 22, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $567.90 million for the quarter, compared to analysts expectations of $562.61 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Red Hat Inc. Red Hat Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jul 7, 2016. Shares were Reiterated by BMO Capital Markets on Jun 23, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $88 .

Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.

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